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Chartered Insurance Institute Group reveals latest gender, ethnicity pay gaps

Chartered Insurance Institute Group reveals latest gender, ethnicity pay gaps | Insurance Business UK

Chartered Insurance Institute Group reveals latest gender, ethnicity pay gaps

The median gender and ethnicity pay gaps at the Chartered Insurance Institute (CII) Group have fallen.

Based on 203 CII Group employees in April 2022, below are the gender pay gap figures, as well as the ethnicity numbers that reflect the information provided by 177 people. Details on pension gap were also provided.

 

 Year

Median gender pay gap 

Mean gender pay gap 

Median ethnicity pay gap 

Mean ethnicity pay gap 

Median pension gap 

Mean pension gap 

2022 

9.31% 

21.19% 

9.90% 

13.10% 

18.37% 

13.46% 

2021 

10.06% 

14.81% 

14.10% 

25.43% 

10.66% 

7.35% 

2020 

13.94% 

16.25% 

11.18% 

17.37% 

2019 

14.62% 

14.77% 

18.93% 

2017 

28.00% 

 

“While there is a positive trend in the form of a narrowing gender pay gap at the median, the mean gender pay gap has widened,” noted CII Group’s human resources executive director Caren Thomas. “The variance between the mean and median hourly pay rate gaps indicates that our data is skewed.”

Thomas explained: “We had an equal number of female and male employees on our executive leadership team in April 2022, while more roles on the senior leadership team were occupied by males, with females occupying a higher proportion of our entry-level and co-ordinator roles.

“As a result, the proportion of male employees increases as we head from the lower middle towards the highest pay quartile and the proportion of female employees decreases.”

Meanwhile the executive director of HR said they were pleased to report declines in both the mean and median ethnicity pay gap while continuing to focus on improving ethnic diversity at senior levels.

“Our proposed actions for 2023 include increasing the proportion of employees disclosing their ethnicity and socio-economic data and to increase the ethnic diversity of colleagues on the senior leadership team,” noted Thomas.

“As a supporter of Progress Together, we are contributing to the work being undertaken to improve socio-economic diversity of senior leaders in the sector.”

The CII Group, the headcount of which is below the required reporting threshold, discloses the above information because of the organisation’s view that it is the right thing to do, according to chief executive Alan Vallance.

“It’s reassuring to see further improvement in these latest figures, while recognising that small changes in our employee composition can make a significant difference to these important measures, which we must bear in mind when making historical comparisons,” stated the CEO.

“There is clearly more to be done, and we will continue to take positive action in collaboration with other organisations to improve diversity across our sector.”      

What is your organisation doing to bridge the pay gap? Share in the comments below.